• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Fed Lowers Rates By 25bps: How Bitcoin And Crypto Prices Responded And What's Next
Bitcoin

John E. Deaton Criticized US Government’s Bitcoin Transaction To Coinbase Here’s Why

Godspower Owie
by Godspower Owie
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

John E. Deaton, a legal expert and advocate of cryptocurrencies, has harshly criticized the United States government for its recent large-scale Bitcoin transfers to San Fransisco-based crypto exchange Coinbase. Deaton, who is well-known for his frank opinions on regulatory matters in the crypto space, has raised worries about the implications of these transfers, questioning the transparency and motivations behind the government’s actions.

US Government’s Bitcoin Transfers Under Fire

The criticism is the result of the US government transferring a sizable portion of Bitcoin to Coinbase, one of the biggest cryptocurrency exchanges globally. According to reports, thousands of Bitcoins are involved in these transactions, which were connected to assets recovered by law enforcement during several operations against cryptocurrency-related crimes.​

Data from Arkham, a blockchain firm revealed that the US government moved over 3,940 BTC valued at $241 million to Coinbase. Originally taken from drug dealer Banmeet Singh, this Bitcoin was forfeited during the trial in January 2024.​ This remarkable transaction comes in the midst of a global crypto market downturn, which has drawn attention from the general public.

Related Reading: Pro-XRP Lawyer John Deaton Backs Coinbase In SEC Case With Amicus Brief

In response to the whale transactions, John E Deaton stated that these are the kinds of actions from the US government that people are sick and tired of deeming the act nonsense. He then called out Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), and US Senator Elizabeth Warren, noting that Gensler continues to work under Warren’s administration, while joining the anti-crypto army she had pledged to create upon her reelection announcement.

Deaton has criticized the US government for utilizing Coinbase for its Bitcoin transfers even though the exchange is accused of engaging in unlawful business activities by the US SEC and Gensler.

He stated:

Gensler, as Chairman of the SECGov has declared Coinbase’s business illegal. Yet, the US Government is using that illegal business to sell Bitcoin to the American public. You can’t make this stuff up.

The legal expert’s critique suggests an inconsistent attitude from the US government, implying that, in spite of the continuing legal battles against Coinbase, using the platform for such transactions is indirectly endorsing them. Furthermore, the action raises serious concerns about the government’s regulatory procedures and implies that it damages the SEC’s reputation.

Coinbase Fights Back At US SEC

John Deaton’s insights coincide with Coinbase’s recent lawsuit against the US SEC and Federal Deposit Insurance Corporation (FDIC) signifying a dramatic intensification of the fight for regulatory clarification within the cryptocurrency space.​

Related Reading: Ripple Backer John Deaton Condemns SEC Chair For Small Investor Damage

Coinbase’s Chief Legal Officer (CLO) Paul Grewal stated that the exchange sued the regulatory watchdog under the Freedom of Information Act (FOIA) for requests made more than a year ago, seeking crucial information to which Coinbase and the general public are entitled to.

The platform is demanding documents from the SEC regarding Ethereum, and whether or not the digital asset is considered a security. Meanwhile, for the FDIC, Coinbase is seeking letters regarding pause notices the corporation claimed they sent to financial institutions concerning crypto-related activities.

Bitcoin
BTC trading at $61,449 on the 1D chart | Source: BTCUSDT on Tradingview.com
Featured image from X, chart from Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Godspower Owie

Godspower Owie

Follow

Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

Full Profile

Related Posts

Coinbase

Coinbase Faces Customer Fury — Exec Promises To Do Better

6 hours ago
Trump

Watchdog Accuses Trump’s Crypto Venture Of Selling Tokens To North Korea, Iran

10 hours ago
Crypto

Crypto Heavyweights Join CFTC’s Global Advisory Panel – Details

14 hours ago
Institutional adoption drives Solana to new ATH as Snorter Token soars

Institutional Adoption Drives Solana to New ATH, as Snorter Token’s $4M Presale Soars

15 hours ago
Crypto Custodian BitGo Reports $90 Billion In US IPO Filing – Details

Crypto Custodian BitGo Reports $90 Billion In US IPO Filing – Details

16 hours ago
Best Crypto Presales to Buy After U.S. Bitcoin Reserve Bill Signals Bullish Supply Crunch

Best Crypto Presales to Buy After U.S. Bitcoin Reserve Bill Signals Bullish Supply Crunch

21 hours ago

Premium Sponsors

Press Releases

  • Experience the Next Chapter of Pickleball with the $PKL Token Presale.

    Experience the Next Chapter of Pickleball with the $PKL...

    3 days ago
  • ตัวละครสัตว์ Snorter หน้าตลกโผล่พ้นกำแพงอิฐ

    นักลงทุนแห่เข้าซื้อ...

    3 days ago
  • Little Pepe ($LILPEPE) presale crosses $25 million milestone as investors eye exchange listings and meme coin Layer-2 blockchain growth.

    Little Pepe Presale Surges Past $25M as Stage 12 Sells Out...

    4 days ago
  • As Demand Grows for Ease, MEXC Adds Apple Pay and Google Pay for Instant Crypto Purchases

    As Demand Grows for Ease, MEXC Adds Apple Pay and Google...

    4 days ago
  • Whales Buy Nearly $100K of $HYPER — Is This the Next 1000x Crypto?

    Whales Buy Nearly $100K of $HYPER — Is This the Next...

    4 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.